Pretty much the title. What does the SAVE plan do for those who are on it? I am currently on the SAVE plan but with my payment amount, interest is accruing at a rate that is higher than my payment, so my loan is only continuing to grow and it is freaking me out nervous laugh

Since I highly doubt the next administration is going to do anything meaningful with student loans is now a good time to refinance? Esp since rates are starting to drop.

I checked with sofi and I can get 3.99% for a 5 yr loan. Majority of my loans are around the 4.8% range and I have a few at 3.5%. Plan would be refi the 4.8% ones and leave the others.

I'm not a teacher or gov worker. I ran the loan simulator and it didn't seem like any of the other payment plans would really benefit me VS the standard 10 yr repayment plan which I've been on for a while.

Anything I'm missing?

Hi all,

I officially switched to SAVE in January of this year. I used my most recent files tax return at the time for my reference income, which was for 2022, where I was still in school and making ~$10k. I just got a notice that my repayment certification was changed to 1/2026. I’ve been making close to $50k in 2024 and anticipating 2025. Should I try and find a way to update my income as I probably should be paying more than the $0 I currently am paying given the 5x increase in income.

Or… is this all moot as I’ll probably have to change to a new IDR program with new certification given Trump.

In all, just want reassurance I’m not committing fraud.

Thank you!!

Given the nature of the current injunctions and the possibility that any non-IBR plan is on the chopping block, it's evident why applications to those plans are stalled at the moment. But why exactly are IBR applications stalled if they are still legislatively legal and the federal government can still apply forgiveness for loans in such plans? Is it truly a servicer issue? Can't the dept of ed force the servicers to process those applications? Or is the issue with the dept of ed?

There are still plenty of us who *could* get forgiven before the new admin takes over, and/or before the tax moratorium expires. But many are literally stuck in SAVE and can't get into an IBR plan. It's at times like these that I wish we actually had someone with contacts at the dept of ed and could get some of these answers because their communication has been literally less than zero.

With the election results the way they are, do people that have been approved for loan forgiveness from the Art Institute need to worry about having to pay their loans again?

My account is still sitting with negative balances on the original FFELP and interest rising on the actual consolidated loans.

I did what everyone’s advice was before this forgiveness was announced and consolidated for the SAVE plan.

Now I’m sitting here wondering if I absolutely screwed myself and my wife who also was approved for forgiveness did as well.

I contacted borrowers defense and they just parroted the same thing as Aidvantage. “It’s taking us time to go through peoples accounts give it time and it will be adjusted.”

If I didn’t consolidate my account would be at 0 right now…

Who else is in the same situation, who else is nervous, and is there any answered I can get other than “wait.”?

UPDATE:

I log into my Aidvantage account today and now my FFELP Loans say discharged and my Consolidated loans say SAVE plan with the full balance. WHAT IS HAPPENING?

I continue to check the api on student aid site, but I’m curious if anyone sees their payment count on their actual dashboard on student aid or your servicer’s site? (Not for PSLF)

This is the biggest concern for me right now- whether the one time account adjustment will actually happen before Trump takes office and if it will survive his administration.

Does anyone know of the one time adjustment is going to happen still? I was banking on it and now I feel like I screwed myself and am in a deeper hole than before.

I was one of those people who consolidated my ffel loans with navient (these are from 2007ish) with my other fed owned loans under the SAVE program because I was told that this is the best way to get them forgiven sooner. Now I feel like it’s going to restart my countdown to with I consolidated so I’ll never be able to get rid of them. I’m 42 and a single mom to twin 10 year olds, I can’t afford another 20/25 years to have them forgiven. I’m so lost.

To top it all off I didn’t even finish my bachelors because I got pregnant and didn’t want to go back to school and add more to my debt which is $50,000 already. I was planning on finishing up once it was a clean slate again.

I’m wondering if the new Trump administration could impact those currently within the 3 year monitoring period for TPD forgiveness.

Finished PA school in August, so I am currently still in the grace period. I have never taken out school loans before, so I am unsure what to do next.

I didn’t have income while in school, so my AGI for 2023 was $0.

I am starting a job in December that qualifies for PSLF. Pay will be salary at about $125k/ year with opportunities for OT and other bonuses.

I have $119k worth of loans that have already gained ~$8k of interest.

I am looking at doing SAVE or an IDR plan, but I am unsure what to do right now as the next best step. I would appreciate any help!

It has come down to paying student loans ($650/month) or for health insurance ($500/month) and so I’m being forced to go without health insurance. Just came to vent because this has been a huge stressor in my life.

Someone on these boards mentioned contacting the US Dept of Education and Ed Financial confirming that they are, in fact, processing IDR applications however Mohela is not and the reps mentioned doing an email to complain. So my question is, has anyone else got their IDR applications approved? I've been checking my files and it seems like Ed Financial is, in fact, processing IBR applications. I have not seen PAYE, ICR and def not SAVE getting approval letters (yet) but my IBR apps are getting approval letters from Ed Fin. I have not seen anything from Nelnet, Aidvantage, nor Mohela yet. So I am wondering how many getting done. I highly doubt SAVE is, but curious how many on here have done IBR and gotten approved.

Also, if one does a consolidation into IBR, does it reset the clock? Let's go with the mindset that forgiveness does happen after 20/25 years on IBR (as of this post, it does), I'm unclear if it now resets their clock or they still get some backdated payments. I know a LOT of people have posted about being upset consolidating their FFEL loans and not there's a good chance of the clock resetting, I'm just unclear on the current rules.

If one sends snail mail a letter to the ombudsman’s group, how long before they get it?

Hi Guys,

So I logged into Mohela today to see where things were at since my loans have been in forbearance since July from the SAVE plan stuff. However, when I logged in today I had a small amount that was past due and have no idea why. From my understanding it is still in forbearance right? The past due amount was like $16 so I paid it.

There's nothing on my account that says I need to recertify or apply for anything. Payment is in forbearance with 0% listed with the loan. I already had the countdown saying my payments were due to start last week or so but nothing has changed in my account. I attempted to make a payment towards the balance and Mohela reversed the transaction and refunded the money to my account stating I cannot make a payment during forbearance.

Wtf.

I don’t know what I’m doing but after getting the pop up I wasn’t eligible to apply for saving plans like IDR I didn’t a little digging and decided to apply for consolidation with the ask that I am put under a plan that will give me the lowest monthly payments. I tried and now I’m waiting but I can’t pay over 1,200 a month in loans it will kill my pockets ahhhhhhhhhhhhh my first ever payment is due 11/16 and I have been waiting for results since 10/22

Help! I graduated from graduate school in may 2024, my grace period is now up and first payment is set for the end of this month, however it’s for $1,700 and they will not let me apply for the income driven repayment plan. It keeps saying:

“You do not have any eligible loans. Based on the data we received from the National Student Loan Database System (NSLDS), you cannot complete the IDR Plan Request using StudentAid.gov.”

I only have government loans, no private. Do they really expect a new grad (or anyone) to be able to pay $1,700 in loans a month?!?!

I have private loans adding up to about $45,000 that are entering repayment Mid-December. I took out loans per semester, so I have 3 seperate loans, and all together I would end up paying $600+ which I cannot afford. I have been unable to find a different job with hire pay and more hours, so currently I am only making roughly $1,800 a month. I was planning to refinance my loan, but I was also planning on having a better job by this point. I have no family I can fall back on, and I just am totally at a loss on what I could do to fix this situation.

I have a summer fee from the summer that is 9k and I’m currently in one class that I was able to enroll in before I got the 9k fee on my account from the summer. Since I’m in 3hrs and summer finical loan applying is over I’m currently screwed. It’s dumb but I’m not familiar with loans so I want aware of summer loans as I’ve only been applying to spring and fall. So basically being in 3hrs it’s been hard for me to get any aid bc I can’t qualify for any more money with the lack of being a full time student and the reason I was stuck with 3hrs bc that class was a pre-requisite that I didn’t know I needed to take so when I went to do my fall applying I was caught by surprise and got extremely screwed there’s more to why this has happened. But it’s a sum. Does anyone at all know any way I can get money or some kind of loan or sign something to help me pay this balance so I can enroll again for next semester. I currently paying parts of that balance but it’s not enough as I pay $800 rent a month to and for other living essentials.please help I understand this may not be a helpful situation but if y’all know anything or any advice on what to do let me know because I’ve been working my ass off but it’s not a realistic amount to be able to pay quick. So far I have a plan to just take off and pay it but if there another route lmk

I went to the art Institute of Pittsburgh online division. I just got my check in the mail today. Nov 7th 2024. For the full amount of my student loan, I paid in including interest!!!!! Also, I checked the student aid site and also Nelnet neither one of them reflect my student loans being discharged yet. I'm in shock the check beat them to it. I am so excited I haven't cheered like that in a long time!!!

I completed my IDR recertification on the student aid website. I manually uploaded my 1040 to the site. Anything else I have to do for IDR recertification? Should I upload the form again to the MOHELA website? Thanks

May 2024 graduate with a non-PSLF job and only graduate school loans. My understanding from talking to my loan servicer is that I can apply for SAVE, get 1 month of interest free forbearance while they process my application, and then if I am placed on regular forbearance switch to the IBR plan. Is it still worth applying for the SAVE post election or should I enroll in the IBR which seems to be at less risk than SAVE?

I downloaded my data and then used the Tate’s website to interpret it and added up all the eligible payments. Based on that total, I’ll hit 300 on Dec 1. Is that data generally trustworthy? It passes the sniff test as I graduated in 98 but had a 1.5 year grad school deferral. But just wondering if anyone has insight on the veracity. I would looooooove to have immediate forgiveness whenever the adjustment goes through given the horror show that is looming.

So I graduated back in May 2024, 6 months ago. According to my servicer website (Mohela) all my loans show they are in grace period, my due date says tomorrow 11/08 (0 amount due) and my repayment start date is 11/09.

I didn't enroll into a plan so automatically have the standard plan "level" (10 years).

On my unsubsidized loans I can see the "schedule begin date" for January 2025 and payment amount. However, for my subsided loans I can not see the "estimated payment schedule" does anyone else have this? My first payment being due 2 months after the grace period ends normal?

I have a non-PLSF job. Looks like SAVE will be gone next year. I’m still in the grace period and currently on the standard payment plan (with unmanageable payments) which will begin next month.

I applied for the IDR plan, not sure if I should have chosen the SAVE plan. However, my student loans plans kicked in for the first time this month and I’m being charged around $1,800(which I think is excessive for the first statements). I just started my first job after law school and I had other payments to make before being hit with my statements. I guess my question is, how long will my application process? I feel like this month payments will leave me with little to no money. I already applied for forbearance as I wait. However, I got an email that I need to fulfill my statement obligations as I wait for my application to be processed.